Throughout the pandemic, many of you have needed extra support with juggling monthly income and expenditure as well as forecasting.
Not only has this helped them plan for the immediate future but it has also been beneficial in creating business strategies for years to come – allowing business owners to make decisions without waiting for yearly reviews.
With that in mind, we are now extending our offering of monthly management accounts to all clients with a package you can add on to your existing service plan with us.
How does it work?
Monthly management accounts are designed to give you better information to help run and grow your business.
In short, they are a set of financial statements prepared every four weeks, which provide clear insight into the financial trading position of your business.
They aren’t required by law, and they don’t have to be filed with HMRC - but they do put you more in control of your finances than ever before.
Typically, they include a profit and loss account, balance sheet, cash flow statement and a short report.
By working this way, the regular information allows you to plan accurately for growth, diversification or expansion.
Other benefits of management accounts include:
Making more informed decisions based on up-to-date information
Measuring performance of your business and individuals
Gaining control over your cash flow
Planning your tax and dividend payments
Detecting fraud in your business
Reducing annual accounting costs
Give it a go
If you would like us to provide you with monthly management accounts, we will agree a plan which is right for you, the size of your business and what you hope to achieve.
These will be prepared on a regular and consistent basis to ensure you are getting the most out of the service.
If you would like to talk to us about how this could work for your business, give us a call today.